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Marketers Can No Longer Justify Media Budgets Without Delivering Quantifiable Marketing ROI

April 3, 2017 Kathy Bryan

Businesses of the 21st century are streamlined in both budgets and resources. As a result, spending without proof of marketing ROI is no longer an acceptable practice.

The History Of Marketing Campaign Measurement

Blind Belief: In the early days of my career, “it all works together” was a phrase we commonly used to explain the performance of cross-channel marketing plans. Sure, we had no means in place to evaluate the success of each channel. But it didn’t matter. We believed every element of the campaign was necessary, and that was enough.

Excitement About Quantifiable Tracking: As digital marketing became more prevalent, performance tracking became easier. Marketers calculated impressions, clicks, conversions, open rates and anything else we could quantify. Campaigns were optimized based on this information, and we felt good about the impact on performance. But when campaigns fell short of their objectives, we often just blamed it on incomplete tracking.

Focus On Last-Click Attribution: More recently, with tracking tags and pixels, marketers started tracking the last source before a conversion. Sure, last-click attribution didn’t tell the full story. But it was better than any other tracking system we’d ever had, so we fully adopted it.

How Last-Click Attribution Impacted Media Campaigns

With the last click of a consumer journey tracked, it was very easy to prove the value of media channels that were active inquiry generators. But top-of-the-funnel channels did not appear to perform as well. Consequently, channels driving conversions were adopted in volume, frequently at the expense of brand awareness drivers. As a result, the lift provided by awareness campaigns was lost, and campaign performance did not achieve its full potential.

Despite the broad adoption, most marketers have realized last-click attribution tracking on its own is not a proper measurement of campaign performance. Last-click attribution assumes only one touchpoint occurs before the conversion, and we know that is not accurate.

Why Cross-Channel, Multi-Touch Attribution Tracking Is So Important

Cross-channel marketing attribution tracking allows marketers to demonstrate the value of everything they do. By providing timely, insightful and actionable data with which marketing campaigns can be holistically (versus channel-by-channel) optimized, attribution tracking also assists in the effective optimization of marketing efforts.

With a realistic attribution model in place, marketers can understand how well a holistic marketing program is achieving its objectives plus how significantly each component is contributing to the success. This information allows for successful campaign optimization and the achievement of better results with less time and effort.

Ultimately, cross-channel attribution boosts marketing ROI.

Sparkroom Technology Can Help You Set Up Cross-Channel, Multi-Touch Attribution Tracking

It’s easier than ever to get started with cross-channel attribution tracking because Sparkroom performance marketing technology now offers it for free. That’s right – free! Currently in beta, the cross-channel, multi-touch digital attribution dashboard within Sparkroom technology connects pre-lead and post-lead data to provide a holistic view of campaign performance.

If you’re a current Sparkroom client, just ask your get your cross-channel, multi-touch attribution dashboard enabled.

Not yet a Sparkroom client? Click here to request a demo of our award-winning Sparkroom performance marketing technology.

Remember, every day without cross-channel attribution tracking is a day you’re wasting marketing effort.

What to learn more about attribution tracking? Click here to download Cross-Channel Marketing Attribution: From Comprehension to Deployment to Predictive Planning, a whitepaper published in partnership with LeadsCouncil.

About the Author

Kathy Bryan

Kathy Bryan is the Chief Marketing Officer at Digital Media Solutions (DMS). In this role, Kathy is responsible for all aspects of marketing and communications for DMS, the largest single entry point for marketers seeking scalable and reliable, martech-enabled digital media distribution.

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